Timonrosso

Palladium setting a very big sell signal to $880

Short
NYMEX:PA1!   Futures palladio
Descending triangle has formed on the weekly chart for Palladium
Last week, was a breakout to the downside.
200 >21> 7 - Red background
RSI <50 lower highs
Bearish
Target $880

WHY WOULD Palladium go down?
I can't tell you with any certainties why it's coming down but I can think of a few potential factors like:
~ Lower demand for Palladium as an investor point of view
~ There is an increase in the supply of palladium - I assume with all of the automotive catalysts and with the higher confidence in electric vehicles (cough Tesla)
~ Interest rate changes with there talks about inflationary measures and interest rate drops, this can result in a drop in Palladium prices
~ Technological advancements reducing the need for palladium. For example, they may be using alternatives like Rhodium, Iron, PLatinum for catalysts in newer vehicles that contain less palladium.

✅ Facebook:
www.facebook.com/groups/matitrader

🌐Website:
www.timonandmati.com

💰FREE Discord:
discord.gg/c8f37kyv35

Twitter:
twitter.com/timonr

Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
Declinazione di responsabilità

Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.